CBRE, Group Inc. has been awarded the leasing assignment for 111 West Monroe, which was purchased in May 2017 by ViaWest. ViaWest Group tapped Bryan Taute, Tim Watters and Charlie von Arentschildt with CBRE’s Phoenix office to oversee the marketing and leasing of the iconic mid-century modern office tower, which will be rebranded to The Monroe.
“Our team is looking forward to working with a local owner who recognizes and affirms the value in enhancing downtown Phoenix,” said Taute. “We share a vision of turning this historic property into a top destination for a diversified mix of tenants, like entrepreneurs, startups and any businesses seeking creative, move-in ready space in a culture- and amenity-rich area,” said Taute.
ViaWest will implement a refresh of the 18-story property to capture the increasing trend of creativity and collaboration among modern office users, with features that could include customized and shared conference rooms, a tenant lounge, a modernized lobby, a gym, bike spa and local art exhibits.
“The modernization of the property’s interior aesthetics and amenities will accommodate tomorrow’s workforce, and also provide a canvas for tenants to create customized spaces that reflect their brands and cultures,” said Steven Schwarz, Founding Partner of ViaWest.
“We were drawn to the building because its mid-century modern and art-deco features lend themselves to the type of look and feel modern tenants are accustomed to and have been searching for in the Downtown market, said Danny Swancey, Partner and Executive Vice President with ViaWest. “With the addition of our planned amenities, we are confident The Monroe will be a cornerstone of the growing Downtown community.”
Located in downtown Phoenix’s vibrant center of commerce, culture and activity, The Monroe is within walking distance to some of the city’s most popular dining and entertainment venues such as Phoenix Public Market, Crescent Ballroom and Valley Bar, and the highly-anticipated Downtown Deli. It’s less than one mile from the growing arts-centric Roosevelt Row neighborhood which boasts a wealth of art galleries, coffee shops and well-attended monthly events like First Fridays.
“This particular portion of downtown Phoenix has experienced tremendous growth in recent years, attracting a more eclectic mix of residents and businesses that have revitalized the area,” Gary Linhart, Founding Partner of ViaWest. “As the city’s core continues to expand, tenants can leverage the position of The Monroe to create a unique extension of the nearby community into their office space.”
Dan Klocke, executive director of Downtown Phoenix Partnership, commented: “We look forward to the reinvestment in a classic Phoenix building that is showcasing the growing entrepreneurial and technology-based companies flocking to downtown Phoenix.”
111 West Monroe has been a part of the downtown Phoenix landscape for more than 50 years and has recently attracted myriad tech firms, including Integrate, Inc., a cloud marketing software and media services provider, Allbound, Orb Health, and Gainsight.